AzerGold CJSC boosts production in Q12024

AzerGold Closed Joint Stock Company (CJSC) successfully continued production and sales operations in January-March 2024, Azernews reports.

The company produced 11,500 ounces of gold and 25,500 ounces of silver in the first quarter of this year, representing an increase of 58% and 25%, respectively, compared to the same period last year. Thus, the gold production plan determined for the first 3 months of the current year has already been implemented by 2%, and the silver production plan by 1%.

Over the course of three months, the CJSC sold 6,600 ounces of gold and 23,700 ounces of silver in local and international markets, and as a result, 25.2 million manats (about $14.8 million) were attracted to the country's economy.

As of April 1, the total income obtained by CJSC as a result of the sale of precious metals in local and foreign markets reached 1,213,911,000 manats (about $714 million). Of that, 1,158,829,000 manats (about $681 million) accounted for export revenues, and 55,082,000 manats (about $32.4 million) for domestic market sales.

AzerGold CJSC aims to produce and sell 70,000 ounces of gold in 2024, which is a 10% increase in production and a 3% increase in sales compared to last year's target.